In this speech, Charles Bean, Chief Economist and member of the Monetary Policy Committee, reviews the background to the adoption of an inflation target in 1992 and the subsequent development of the regime, in particular the delegation of operational responsibility for monetary policy to the...

This paper considers a number of issues connected with the implementation of monetary policy in the Euro zone. These include: the techniques of monetary control; whether to adopt an explicit inflation target and, if so, for what index; the politics of decision-making within the Governing Council...